Carefully! Lots of text.
Bored Ape Yacht Club (BAYC) is a collection of 10,000 monkey NFTs, each with completely unique traits. However, some NFTs are rarer than others, making them more valuable. The acquisition of Ape gives owners exclusive access to future collections, as well as other BAYC member benefits.
In addition, BAYC owners have the opportunity to use a special serum and turn their Apes into mutants - Mutant Apes. The Mutant Collection is available for purchase for 3 ETH per NFT. Owners of original BAYC Apes also have the opportunity to create Club Dog NFT collections for free. The club donated royalties from secondary sales to animal charities.
Part of BAYC's success has been its desire to create not just an NFT collection, but an entire universe and an exclusive club of NFT owners. At the same time, the combination of the Mutant Arcade game, charity events and club bonuses allows the creators to maintain the popularity of the project and the high price of entry.
Introduction
Finding your place in the NFT world is not easy at all. For every popular project, there are several much less successful and similar to one another. However, some manage to attract the attention of investors. Bored Ape Yacht Club is one of the most famous collections in the NFT ecosystem. But what is the secret of her success? Indeed, despite the familiar format of the project, it still managed to conquer the world of NFTs.
What is Bored Ape Yacht Club (BAYC)
Bored Ape Yacht Club is a collection of 10,000 non-fungible tokens (NFTs) featuring monkeys created on the Ethereum blockchain. The project was inspired by the CryptoPunks collection, in which each NFT features a completely unique image. Each Ape has a different rarity depending on the ape's unique traits.
The project was created by four founders under the pseudonyms Gargamel, Gordon Goner, Emperor Tomato Ketchup and No Sass as a new line of NFTs, and then as an exclusive club for BAYC owners. These innovations maintained interest in the project, allowing its creators to sell NFTs at Sotheby's auctions for an incredible price of $3,400,000 (USD) per piece.
How Bored Ape Yacht Club works
Ape's avatar is an ERC-721 NFT on the Ethereum blockchain. Each token is non-fungible - that is, unique and cannot be exchanged for another cryptocurrency or token. Each Ape (Ape) consists of seven possible characteristics:
1. Background
2. Clothes
3. Earrings
4. Eyes
5. Meh
6. Headdress
7. Mouth
Each attribute has many variations and styles. For example, monkeys can have golden, multi-colored, or gray fur. Some skins are limited to a certain number, so some characteristics are much rarer than others.
Typically, Apes with the rarest attributes will sell for a higher price. To determine the value of attributes, just find a collection and filter them by rarity. In other words, a monkey with a set of rare attributes will sell for a higher price than a monkey with a common set of traits.
Key benefits of Bored Ape Yacht Club
Ape owners are members of exclusive clubs and have access to BAYC features such as receiving the latest NFTs, NFT upgrades and other benefits. In addition, BAYC members have the opportunity to join Mutant Ape Yacht Club (MAYC) and Bored Ape Kennel Club absolutely free. With both collections selling at high prices, the benefits of being part of BAYC are obvious.
What is Mutant Ape Yacht Club
MAYC is a collection of NFTs featuring images of mutant monkeys and zombies. Owners of the original 10,000 NFT BAYC were able to take advantage of three types of serums: M1, M2 and M3.
They were randomly sent to wallets containing NFTs. Moreover, if the user came across M1 or M2 serums, they could create a new mutant monkey with the same attributes. The M3 serum made it possible to obtain a mutant monkey with new attributes that could be rarer than the original.
Yuga Labs claims that MAYC is the “ultimate level of membership” for Ape owners. In the future, the team plans to focus on adding new features and benefits for BAYC members.
What is Bored Ape Kennel Club
Bored Ape Kennel Club is the next NFT collection from Yuga Labs and is available exclusively to Ape owners. Ape holders could create Club Dog NFTs with different attributes and rarities, receiving them absolutely free (not counting gas fees). Any secondary sales for a limited time were subject to a 2.5% royalty, which was donated to animal charities.
What is Mutant Arcade
BAYC attracts users with its special history and atmosphere. While CryptoPunks only has an NFT collection, BAYC has created an entire themed universe. One of its parts was the small game Mutant Ape Arcade, released along with the MAYC collection.
What is Bored Ape Yacht Club Bathroom
Bathroom is another benefit for members, allowing Ape owners to draw one pixel every fifteen minutes in the Bathroom virtual wallet. At its core, the Bathroom is a community drawing board, but along with the club's other benefits, it helps immerse collectors in the project and its universe.
Where can you buy Bored Ape Yacht Club NFTs?
BAYC and his other collections command a high price due to their popularity. They are only available for purchase on the secondary market as the entire primary collection has sold out. They can be purchased on OpenSea and Rarible.
To purchase Ape, you will need enough funds (ETH) to pay the cost and transaction fees, as well as a wallet that can connect to DApps, such as Metamask or Binance Chain Wallet.
Conclusion
The Bored Ape Yacht Club project successfully used the popular NFT model and found new ways to engage users. By combining charity, updates and other bonuses, Yuga Labs has perfected the CryptoPunks format. However, like the rest of the NFT community, the creators of BAYC intend to focus more on the usefulness of NFTs and not just their collectability.